Public Finance Management Act [Chapter 22:19] as amended as at 28 October 2016 purpose the appropriate portfolio committee shall conduct public hearings to elicit the opinions of as many stakeholders in the national annual budget as possible. 29 Minister may authorise advances The Minister may, by warrant under his or her hand addressed to the Accountant-General, authorise the issue of advances from the Consolidated Revenue Fund— (a) to special funds if those advances are repayable not later than the end of the financial year in which they were issued; (b) to public officers, for the purpose of funding approved expenditure, if those advances are repayable not later than the end of the financial year in which they were issued. 30 Withholding of appropriated funds The Treasury— (a) may withhold from a Ministry any remaining funds appropriated for a specific function if that function is transferred to another Ministry or any other institution; and (b) shall allocate those remaining funds to that other Ministry or institution. 31 Duration of appropriation and warrants Every appropriation by Parliament of public money for the service of a financial year and every warrant or other authority issued under this Act in respect of such financial year, shall lapse and cease to have any effect at the close of that year, and the unexpended balance of any moneys withdrawn from the Consolidated Revenue Fund shall be repaid to the Consolidated Revenue Fund. PART IV FINANCIAL STATEMENTS 32 Preparation and reporting of annual financial statements by Ministries (1) Every director of finance shall prepare or cause to be prepared the annual financial statements of the Ministry concerned and shall submit such statements to the accounting officer in that Ministry and to the Accountant-General within thirty days of the year concerned. (2) The Auditor-General or any independent auditor shall audit the annual financial statements and return the audited statements to the accounting officer within sixty days of receipt thereof. (3) The annual report and audited financial statements shall— (a) contain a report on the activities, outputs and outcomes of the Ministry; (b) fairly present the state of affairs of the Ministry, reporting unit, constitutional entity or public entity for which the Ministry is responsible; (c) include, where appropriate— (i) particulars relating to losses arising through criminal activities, and criminaal nd disciplinary action taken; (ii) instances of unauthorised expenditure; (iii) instances of irregular expenditure; (iv) instances of fruitless and wasteful expenditure; - 24 -